According to Statista, the global number of software developers is increasing significantly and is projected to reach 28.7 million by 2024. The main reason for this growth is the rising demand for skilled technocrats to address the needs of software product engineering in building new-age digital experiences. However, the highly competitive software product engineering demands more than skilled technocrats - it needs the right strategy.y.

Modern digital ecosystems seek profound insights into user interactions so that the business visions guiding them can leverage pinpointed usability issues. To ensure digital success in your industry, it is crucial to conduct a thorough assessment that fosters an objective understanding of the product. This approach aids in catering to the audience in a more thoughtful manner..

Testing tools in AI and data automation have evolved to offer sophisticated features that ensure the quality of the end product and reduce its time to market. With reports suggesting 50% of manual testing being replaced by automated, these tools can help with various aspects of software testing, including unit testing, performance testing, and security testing. They can be integrated practically anywhere across the CI/CD pipeline for continuous testing and shift left testing.

‍ A survey suggests that 61% of companies' compliance teams have identified that keeping abreast of upcoming regulatory changes should be a top strategic priority. This indicates that businesses are not only striving to meet current compliance requirements but are also proactively staying ahead of them. However, maintaining such compliance requirements needs tight security strategies.

‍McKinsey’s latest research projects that generative AI could contribute between $2.6 trillion and $4.4 trillion annually across various sectors. Experts have also observed that integrating AI-driven automation, threat detection, and low-code platforms redefines next-gen software development. Whether it is code generation, bug fixing, or even designing a new digital component, generative AI is seeping into all product engineering processes.

IoT is driving the digital metamorphosis in the banking industry. The surge in internet-enabled devices, like smartphones, tablets, and smartwatches, signifies an increase in opportunities for fintech software development to scale their business through the Bank of Things (BoT). IoT technologies are enabling real-time connections, making banking more efficient and customer-centric.

QA automation is undergoing a period of anticipation, with generative AI and advanced technologies poised to transform testing processes. With a promise of heightened efficiency and broader test coverage in digital solutions, QA automation services have become necessary for organizations across industries. Therefore, CTOs and other executives are now discussing strategies to build in-house QA automation teams.

Businesses are seeking ways to collect all the data from their digital sources and draw out patterns that can reinterpret human participation with automation. A vanguard in this attempt is the emergence of large language models (LLMs) powered by artificial intelligence (AI).

Per the trends suggested by Red Hat, modernization is among the topmost funding priorities (45%) for global businesses - all thanks to the promises of better digital experience, cloud-native, and quicker time to market. Generative AI can fulfill these promises by automating legacy system updates, enhancing user interfaces, facilitating cloud migration, and expediting software delivery.

More than 200 flights were grounded across the US on a fine Tuesday in September 2023. The airlines later clarified that the culprit was a “software update” that slowed down their technology systems. Such issues are enough to trigger massive anxieties, especially if air travel is involved.